Prices of metals have risen sharply over the last decade. For example, the price of copper on the Comex division of the New York Mercantile Exchange increased from less than $1 per pound in 2001 to about $4 per pound in early 2012. Accordingly, copper has become very valuable.
As is well known, copper is used in connection with telephone, power, and cable TV wiring. Due to its valuable nature, thieves have been stealing copper wires from telephone, power, and cable TV systems. While the cost of the copper wire is expensive, the repair costs are much higher. According to some estimates, for each dollar of copper wire that is stolen, the repair costs amount from $10 to $25. The repair costs do not factor in the downtime to consumers, who experience interruptions to their telephone, cable, power and internet service.
Some thieves mistake copper telephone wire with fiber optic cabling. In such case, repair costs are borne by cable, power, or telephone companies. When fiber optic cabling is stolen or damaged, consumers' television, telephone, power, and internet service is interrupted, which results in inefficiencies and causes consumers to view these companies in an unfavorable manner.
The aforementioned telephone, cable, and power system repairs are ultimately passed on to consumers. Accordingly, it would be beneficial for consumers, along with telephone, cable, and power companies, if a mechanism was developed to deter thieves from stealing or attempting to steal copper wire.